Intellectual property as intangible good

Motivation: Nowadays in economic literature we can observe the increasing popularity of the concept of intellectual property. Nevertheless, this growth is not accomplished by solving conceptual problems. The number of existing definitions, considerations about the intellectual property among intangible resources and descriptions of its characteristic features is enormous. Therefore, in-depth studies on concept of intellectual property are necessary from the point of view of economics and law. Aim: The main purposes of the paper are: to place intellectual property in the area of intangible assets and to specify and describe its specific features. The paper also tries to answer the question: is intellectual property a private, a public or a club good. Results: The paper discusses the differences and relationship between such economic concepts as: property, intangible goods, tangible goods and intellectual property. It exemplifies and describes specific features of intellectual property, and also discusses situations in which intellectual property can be perceived as a private good, a public good or as a club good.